Ann: Quarterly Activities Report, page-11

My most humble apologies and a thousand pardons, guys.

I had a very quick look and made the above comments. I was so wrong. The Qterly included the cash flow report.

I am buoyed by this report and set out the following reasons:

1. The total receipts in this qtr was about 8m compared to about 3m last qtr

2. The loan facility available was 40.4m of which 37.8m was drawn down leaving 2.6m available at end of Qtr.

3. The cash outflow for the next qtr is about 19.1m. Assuming they draw down ALL of the remaining 2.6m available and have no further borrowings being made available to them means that they are looking at proceeds in the qtr of about 16.5 million!!

Just think of the trajectory - 3m in Qtr1, 8m in Qtr 2 and estimated 16.5m in Qtr 3.

IMO, we are there guys. Just hang on for a few more months!! There is a lot to like about this report although you have to read between the lines somewhat.

As Moorpett (?) said - they are looking at half the capacity of the mill!! What about the other half? Go back, say around 4-5 years from memory, and have a look at some DFS/PFS. Could it be tin????

I am in a buoyant mood right now - thanks Ralph!!

All IMOO and pls DYOR!!